My Home is Worth How Much? When property prices tumbled, I assisted many clients in reducing their property taxes. Now that Los Angeles real estate values have soared, many clients are seeing their taxes increase. It is simply a matter of applying and offering supporting data to validate your claim.
Several weeks ago, I received a phone call from one of my Burbank clients. She had just opened her property tax bill, which had dramatically increased. She was shocked. I asked her what the assessor indicated her value as, and she responded $548,000. I almost fell out of my chair laughing and told her that her home would sell in the high sixes, if not low sevens. She was dumbfounded.
Don’t trust online valuation sites; they are often wrong than right. They can’t make location adjustments (high traffic streets, freeway noise, high tension lines, etc.) and cannot differentiate between a level lot and a large hillside lot.
What’s your home worth? If you want to know what your home is really worth (what a buyer is willing to pay) consult a real estate professional.
